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Masters in Finance in Canada: A Complete Guide on Masters in Finance in Canada for International Students

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Yocket Editorial Team
18 mins read
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Canada is a complete package for exemplary education, humongous career opportunities, and outstanding industrial exposures. If you are someone who is interested in analyzing financial trends, and financial markets, moreover someone who is fond of finance as a discipline, a masters in finance is definitely your perfect match! And what better than Canada to start your PG journey in finance? With a starting salary of around 60,000 CAD, the best universities in Canada for masters in finance will definitely present you with life-changing opportunities. 

Want to know more? Keep reading as we are here to make you explore the best of masters in finance in Canada! 

Table of Contents:

  1. Why study Masters in Finance in Canada? 
  2. Overview for Masters in Finance in Canada
  3. Eligibility and Admission Requirements to study MS  in Finance in Canada
  4. Application Process to Study Masters in Finance in Canada
  5. Cost of Studying Masters in Finance Courses in Canada
  6. Difference between PG Diploma and Masters in Finance in Canada
  7. Scholarships to study MS in Finance in Canada 
  8. Career Opportunities after Pursuing Masters in Finance in Canada 
  9. Frequently Asked Questions about MSc Finance Canada 

 

Why Study Masters in Finance in Canada?

MSc Finance Canada is one of the highly sought after programs. Let's find out why the masters in finance in Canada is highly chosen among the international population: 

  • Highly valuable course: MSc finance Canada is one of the most valuable and highly ranked courses in the world. Students with graduate degrees in finance pursue careers like financial analysts, investment bankers, tax advisers, financial managers, and others and receive a beneficial ROI.
  • Excellent Education: Providing the best infrastructure, best universities in Canada for masters in finance have stood out across the world. Canada is popular for offering international students with outstanding educational as well as industrial experiences. 
  • Abundance of courses and specializations: Some of the best finance courses in Canada offer students with various types of specializations like professional financial services, finance planning, insurance management, financial analytics etc.
  • Bright career scope: After pursuing an MS in Finance in Canada, you can get hold of extremely powerful job opportunities with world-famous recruiters. Moreover, you can also pursue further studies in finance post your masters degree with numerous scholarships available to choose from. 

Suggested: Explore Job Opportunities After Studying in Canada!

 

Overview of Masters in Finance in Canada 

Let us now make you explore the program structure and curriculum for masters in finance in Canada: 

Duration 

2 years 

Type of Programs 

Degree /Certificate/PG Diploma 

Mode 

Full-time / Part-time

Average Annual Tuition Fee for International Students

30,000 CAD to 88,000 CAD

Specializations 

  • Financial analytics 
  • Management in financial strategies 
  • Financial strategic management
  • Financial planning
  • Financial risk management
  • Financial planning services 

Top Programs 

  • MBA in Finance 
  • Financial management diploma 
  • Graduate certificate in financial planning 
  • Master of finance 
  • Master of financial economics
  • Master of management in finance 

Top Universities 

  • Centennial College 
  • University of Toronto 
  • George Brown College 
  • University of Alberta 
  • Humber College
  • University of British Columbia  

 

Eligibility and Admission Requirements to Study MS in Finance in Canada

Let us now check out the Masters in finance Canada requirements and eligibility criteria:

  • Bachelor's degree
  • English proficiency test scores 
  • GMAT or GRE Scores 
  • Work Experience  

Given below are the masters in finance Canada eligibility criteria: 

  • Bachelor's degree

The most basic requirement to apply to a masters in finance degree in Canada for international students is to have academic transcripts for every level of study. You should have a bachelor's degree in order to be eligible for an MS in finance in Canada. Some prerequisite subjects for a majority of finance programs in Canada are: 

  • Mathematics 
  • Advanced functions 
  • Calculus 
  • English 
  • English proficiency test scores 

It is essential for you, as international students, to have an English proficiency proof in terms of IELTS, TOEFL, PTE or other tests. The minimum IELTS requirement to study finance courses in Canada for international students is a score of 6.5 or above, depending on the university/ program you choose. 

  • GRE or GMAT Scores 

Universities in Canada for masters in finance also ask for your GMAT/GRE scores in order to complete your application. 

  • Work Experience

Work experience is recommended by many universities but not required. Candidates holding 3-year degrees should have one year of full-time, post-graduate work experience to stand out among other applicants.

Suggested: Eligibility, Requirements & Application Process for Masters in Canada!

 

Documents Required for 

Completion of online application to universities offering masters in finance in Canada includes submission of the following documents:

  • Statement of purpose (SOP
  • An updated resume
  • Two letters of recommendation
  • Copies of transcripts from all previously attended post-secondary institutions
  • Proof of GMAT/GRE scores
  • Proof of English language proficiency scores
  • Work experience letter if you have any

 

Application Process to Study Masters in Finance in Canada

The application process for applying to some of the top finance universities in Canada has been discussed briefly below: 

  • Choose your course and a university to start your masters in finance degree in Canada.
  • Submit the application form along with the application fee. 
  • Submit all the required documents including transcripts, bachelor's degree (if required), along with additional requirements like SOP, Resume, LORs, and proof of work experience, as asked by the particular university.
  • You may also be asked for an interview process. 
  • Apply for a scholarship or financial aid, if available at the university. 
  • Wait for the admission decision. 

Suggested: Complete guide on how to apply for Canadian Universities!

 

Top Universities to Study Masters in Finance in Canada 

Best universities for finance in Canada provide international students with Innovative, rewarding and out-of-the-box experiences. We have curated below the list for the top universities in Canada for masters in finance: 

Universities 

Popular Programs Offered 

Duration 

Average Tuition Fee for International Students (in CAD)

University of Toronto   

Masters in Accounting and Finance

Master of Finance 

2 years 

Master of Finance : 44,740 / year

Masters in Accounting and Finance: 87,459 / year

Concordia University 

MSc in Finance 

2 years

40,000 (total)

McGill University

Master of Management in Finance 

MBA Finance 

2 years 

MBA Finance: 54,990 / year

Master of Management in Finance : 57,465 / year

York University 

Master of Finance 

2 years 

26,714 / semester

University of Alberta 

Master of Arts in Economics and Finance 

2 years 

14,648 / semester

Universite De Montreal

MSc in Applied Financial Economics 

2 years  

32,597/ year 

 

Cost of Studying Masters in Finance Courses in Canada 

The MS in finance in Canada fees lies somewhere in between 30,000 CAD to 88,000 CAD annually. 

Beyond Masters in Finance Canada fees, students should budget for living expenses of approximately 20,000 CAD per year. This figure is based on the standard needs of a single person and includes accommodation, groceries, clothing, public transportation and miscellaneous expenditures.

Suggested: Complete breakdown of cost of studying masters in Canada!

Difference between PG Diploma and Masters in Finance in Canada 

Though a PG Diploma will cost you less than a masters degree in finance, and is usually of a duration of 1-1.5 years; a PG Diploma in Finance in Canada will be less valuable as a degree as compared to a masters in finance degree in Canada. 

Meaning, a masters in finance degree will open more doors for you in terms of excellent employment opportunities and a high pay scale as compared to a PG Diploma in finance in Canada.

 

Scholarships to Study MS in Finance in Canada 

Numerous scholarships are available to pursue masters in finance in Canada for international students, including a lot of university-specific, privately funded and government-funded scholarships. 

Given below are some scholarships to aid your MS in finance in Canada: 

Scholarships 

Eligibility 

Award (in CAD)

International Entrance Scholarships, Humber College 

International Applicants showing high academic performance 

2,000

Vice-Chancellor Scholarship, York University

International Applicants showing high academic performance 

10,000-20,000

Banting Postdoctoral Fellowships, Canadian Government 

International graduate students demonstrating high academic performance

70,000

Vanier Canada Graduate Scholarships Program

International graduate students 

50,000

Suggested: Best masters scholarships in Canada for international students!

 

Career Opportunities after Pursuing Masters in Finance in Canada 

MS in Finance in Canada can definitely be your gateway to success, as the course is highly valued all over the globe, and will provide you with global career opportunities. The base salary for a finance graduate in Canada stands somewhere at 60,000 CAD per annum. You can also pursue further studies in the form of a PhD in finance. 

Some of the job opportunities available after pursuing a masters in finance in Canada are: 

  • Budget analyst
  • Market research analyst 
  • Chartered accountant
  • Financial analyst 
  • Risk manager 

For a better understanding of what careers post MS in finance in Canada look like, we have tabulated the top finance job profiles Canada, with their average salaries: 

Job Profiles 

Average Annual Salary (in CAD)

Chartered Accountant

104,000

Financial Manager 

60,000-100,000

Financial Controller 

57,000-113,000

Project Manager 

51,000-108,000

Tax Advisor 

105,000

Risk Management Director 

209,000

Financial Analyst

45,000-78,000

Operations Manager 

46,000-106,000

A masters in finance through best universities in Canada can pave way for astounding global opportunities. Also, due to a rise in the demand for finance graduates in Canada, the MS in finance will definitely help you build a bright future in Canada! Take a step ahead now, connect with Yocket professionals and fulfill your dream of studying in Canada!

 

Frequently Asked Questions about MSc Finance Canada  

  1. Which are the best finance universities in Canada? 

Ans. The best universities for finance masters in Canada are:  

  • University of Alberta 
  • University of Toronto
  • Humber College 
  • McGill University 
  1. What is the cost to study masters in finance in Canada? 

Ans. Masters degree programs can range from around 30,000 CAD to 88,000 CAD yearly depending upon the university you choose.

  1. What are some career prospects after pursuing the best MS in finance courses in Canada? 

Ans. Some career prospects include: 

  • Pursuing higher education
  • Starting your own business in accounting management
  • Get employed as a financial manager, financial consultant, risk manager 
  1. Are scholarships available for pursuing masters in finance courses in Canada? 

Ans. Yes, top universities in Canada for accounting provide international students with numerous scholarships in the range of 2,000 CAD to 50,000 CAD per annum.

  1. What are some of the most popular programs in the field of finance at the PG level? 

Ans. Some of the most popular programs in the field of finance are MBA in Finance and Masters in Finance.

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